Minutes of General Assembly Meeting – Addition of Partner/Shareholder

Document Summary

This document records the decision of the partners/shareholders of the company to admit a new partner/shareholder into the company. It also includes a form where the memorandum of association of the company is amended to include the new partner/shareholder.

Description

As per article 100 of Federal Decree-Law No. 32 of 2021 on Commercial Companies, a summary of the discussions of the general assembly shall be drawn up, and the minutes and decisions shall be recorded in a special register to be kept at the head office of the limited liability company. Any partner may inspect the minutes in person or by proxy and may also inspect the balance sheet, the profit and loss account, and the annual report.

As per article 101 of the same law, it is not permissible to amend the memorandum of association of the company nor to increase or decrease its capital  except with the approval of a number of partners representing at least three quarters of the membership interests represented in the meeting of the general assembly, and the percentage of such increase or decrease shall be pro rata to the percentage of partners' membership interests in the Company. In all cases, the financial obligations of the partners may not be increased except by their unanimous consent.

Jurisdiction

This document is intended for use in the United Arab Emirates.

Before Execution

• The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.
• Please delete this front page together with the information contained in the headers, footers, and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.
• Please remove the square brackets and all highlighting prior to signature.

Disclaimer

This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.